Amazon is known for its daily deals. Its Gold Box Deal of the Day offers \ discounts on all sorts of products from the entire box set of The Wire to vacuum cleaners and Blu-ray players. Amazon also offers a free Android app each day available to download in the Amazon Appstore. Today, Amazon announced a new Kindle Daily Deal for all of the millions of Kindle owners looking to score an e-book at a discounted price.

The deals go live at 12 a.m. PST each day and run for 24 hours. Unlike the deal sites that offer discounted devices at a first-come-first-serve basis, you won’t have to worry about the deal “selling out.” It’ll be there for the entire day.

We have to admit, the discounts are quite good. Today’s deal is Kate Dicamillo’s young adult fiction novel The Miraculous Journey of Edward Tulane. The e-book was previously $5.59, but today it’s offered for $1.39 (75 percent off). The products offered in Amazon’s daily deals aren’t the outdated MP3 players that nobody wants to buy, nor are they the mediocre books that are published and then quickly taken off the shelves. Today’s deal comes from a Newberry award-winning author, and the book has received a 4.5-star rating from 333 Amazon users.

In addition to the Gold Box deals, the Appstore deals, and now the Kindle deals, Amazon also offers an Amazon MP3 deal each day for discounted digital albums. And let’s not forget about the little acquisition Amazon made with Living Social, the biggest Groupon competitor out there. Amazon truly knows the way to our frugal hearts.

You can follow @AmazonKindle on Twitter to get the latest updates each day.